Hi All,
What algos do you think should be replaced? Which ones do you think we should add?
Is it possible to just add more algos and keep the existing ones or do we have to stay at 5?
There seems to be barely anyone mining skein and qubit now has asics so in my opinion, those are the first to be replaced.
Correct me if I'm wrong but each additional algo increases the minimum hardware requirements for running a full node. I'm not sure if 6 is safe or not, but it probably depends on how costly each algo is to verify.
I think adding a new algo can be worth it if the mining hardware requirements are unique and it attracts new, different miners. Otherwise all you are doing is diluting the rewards for the similar algo(s), so there's no security benefit.